The Wall Street Skinny
Where Bloomberg meets Page Six.
Join us -- Kristen and Jen -- two former Morgan Stanley and Lehman Brothers investment bankers who take the most complex deals, market moves, and stories in finance and distill them into what actually matters.
From conversations with the biggest names in investing to deep dives people can’t stop sharing (not to mention the occasional HBO Industry red carpet), this is the show Wall Street is obsessed with.
Episodes
251 episodes
Elon Musk Engineered SpaceX IPO "Perfectly": But What Comes Next When 95% of Stock Unlocks?
After the largest IPO in history (SpaceX, ticker SPCX, priced at $135), only about 5% of the company — roughly $83 billion — is actually free to trade. Insiders are locked up, the banks that underwrote the deal can't lend shares to short seller...
Mindy Kaling's "Not Suitable for Work": Our Hot Takes on the Show About Investment Banking in NYC We've Been Waiting For
Mindy Kaling's new sitcom "Not Suitable for Work" just dropped, and we have thoughts. We are two Wall Street veterans breaking down everything the show gets right — and wrong — about what it actually looks like to show up as a first-year analys...
How Google Front-Ran SpaceX with a Record Breaking $85 Billion Equity Raise
While everyone's been fixated on the SpaceX IPO, Google quietly pulled off the largest equity offering in history—roughly $85 billion—and basically front-ran the entire market to do it. In this episode of The Skinny on Wall Street, Kristen and ...
How Spotify Turned a Free Product into a $100 Billion Company
We've done the finance of Industry, the finance of Succession, the finance of Belle Burden's Strangers — but we've never done the finance of CREATORS. So when Spotify invited us to their Investor Day, we knew we had to sit down and ask the ques...
SpaceX Just Rewrote the Rules of the Stock Market (And Most People Had No Idea)
In this episode, we dig into one of the biggest market questions hiding behind the hype around mega IPOs: what happens to passive index investors when companies like SpaceX, Anthropic, and OpenAI go public? We ask why the VIX and ma...
Ex-Morgan Stanley Bankers: "Strangers" How Much Belle Burden's Husband Was Actually Earning
No one is talking about the insane thing that's happened to Big Law partner compensation over the past decade — and how it stacks up against Wall Street.In this deep dive we broke down EXACTLY what's going on. What started ...
Ex-Morgan Stanley Bankers: "Strangers" by Belle Burden Part 1 | Our Initial HOT TAKES
Two weeks ago, one of the most powerful women on Wall Street asked us to weigh in on Belle Burden's bombshell memoir: "Strangers". As two women who've lived and worked in every world this book touches — from raising three kids in New York City ...
Hedge Funds Want the Equity in Your Home, feat. Tacora Capital Founder Keri Findley
In this episode we dig into the state of the American consumer's balance sheet, which on paper isn't broke but is increasingly "boxed in." We walk through eye-opening Federal Reserve data: total household debt hit an all-time high of $18.8 tril...
$53 Billion Hedge Fund Chief Strategist: The Next Market Shock Is Hiding in Plain Sight
We sat down with Elizabeth Burton, the new Chief Strategist at Fortress, one of the world’s biggest and most respected hedge funds, to ask what actually matters most in this market — and her answer might surprise you.This is the same El...
Burry Left in a Hurry! The Loophole GameStop Could Use to Pull Off Buying eBay (10x its Size)
Michael Burry just dumped all his GameStop shares. eBay reportedly deactivated Ryan Cohen's account. And the $56 billion "takeover" GameStop pitched on CNBC? It would actually have eBay shareholders paying for most of it themselves. We're back ...
GameStop Just Bid $56 Billion for eBay. What is ACTUALLY Going On????
🚨 EMERGENCY EPISODE: GameStop just made an unsolicited $56 billion bid for eBay, and the math is NOT mathing. After watching CEO Ryan Cohen's bizarre live CNBC interview with Andrew Ross Sorkin (where he kept deflecting questions with answers l...
Every New Fed Chair Has Crashed the Market. A New One is Coming May 15th
Jerome Powell's term as Fed Chair ends May 15th, and his likely successor Kevin Warsh is poised to walk into the most fractured Fed since 1992. In this episode, we're breaking down what actually happened at Powell's final meeting, who the disse...
Financial Times Reporter TELLS ALL: Sujeet Indap on Why Private Credit is Worse than Credit in 2008 | Caesars Part 3/3
In Part 3 of our Caesars Palace Coup series, we're back with Sujeet Indap of the Financial Times — co-author of the definitive book on the $30 billion LBO disaster — to connect the dots between 2008's creditor-on-creditor violence and the priva...
Restructuring 101: How Private Equity Pits Debt Investors Against Each Other | Caesars Part 2/3
This is Part II of our Caesars Palace deep dive, and honestly, this is where things get truly unhinged. If Part I was the setup — the $30 billion LBO, the financial crisis, and the private equity firms scrambling to keep the lights on — this ep...
Private Equity Knows Something Private Credit Doesn't | Caesars $30B LBO is the Playbook | Caesars Part 1/3
Private credit is the crisis everyone's watching, but the real story -- and the one no one has been focused on -- is what private equity is doing behind the scenes.In Part 1 of our 3-part series, Kristen and Jen break down the $30 billi...
Morgan Stanley's Head & CIO of Private Equity Solutions: The Ultimate Deep Dive into PE Investing
Buckle up, because this week we're sitting down with Neha Champaneria Markle, who runs the Private Equity Solutions group at Morgan Stanley Investment Management.Neha walks us through the entire private equity landscape and answers the ...
Wall Street is Watching Something More Concerning than Oil
Everyone's been freaking out about oil and stocks, but the scariest thing this past week actually happened in bonds, and almost nobody was talking about it. Last week the US Treasury held three auctions that were utter disasters, with d...
Private Credit: Even Apollo's Trapped Investors. Here's Exactly What You Need to Know
Private credit is all over the headlines — and all over your social media feed. Apollo just gated redemptions, Moody's stripped KKR's credit fund of its investment grade status, and Bill Maher is talking about it on late night TV. But what's ac...
Private Credit UPDATE: Is this 2008 all over again?
If you read the headlines about Private Credit, it feels like we're on the verge of another Global Financial Crisis. So, are we? In this Private Credit "state of the union" episode, we break down the structural differences between tod...
Head of Investor Relations at $3 Billion Hedge Fund Tells All | Capital Raising 101
In this episode, we sit down with Kate Baumann, Head of Investor Relations at Empyrean Capital Partners (a $3 billion event-driven, multi-strategy hedge fund), LIVE from iConnections in Miami. Here's the thing nobody tells yo...
Jobs, Oil, and the Ellison's LBO of Warner Brothers | TWSS x CNBC's Dan Nathan & Guy Adami: "He Said / She Said"
We're back for the ninth installment of He Said She Said, our regular crossover series with Dan Nathan and Guy Adami of CNBC's Fast Money. We recorded just after the open Friday morning, breaking down a February jobs report that caught many off...
Iran Is Shaking the Oil Markets. What the Top Commodities Traders Are Thinking Right Now
In this special emergency episode of The Wall Street Skinny, we sat down with Andreas Laskaratos, CEO of AB Commodities Group, a global oil and gas shipping and trading firm with operations spanning Europe, Asia, and the Americas. Andrea...
LIVE from Miami: Is Private Credit Fundraising OVER?
We sat down with Ron Biscardi, the CEO and co-founder of iConnections, live at Global Alts Miami to get the skinny on what's happening with fund managers and allocators in real time. Last year, private credit was the undisputed darling...
Paramount Outbids Netflix for WBD & Middle East Military Action Fallout | Emergency Episode
Kristen and Jen tackle two major stories in this double emergency episode. First, Kristen breaks down latest update in the Warner Bros saga — how Paramount outbid Netflix with a $31/share offer, why Netflix walked away, and what the deal means ...
Industry S4E8 "Both/And" | Where does Industry go from here?
It's a bittersweet day at The Wall Street Skinny, where we are recapping the SEASON FINALE!! While this one is lighter on finance than most episodes this season, we still dig into the mechanics of closing out a massive short position without sp...